¬†Production at U.S. factories rose in September led by output gains in both durable and nondurable goods, indicating the manufacturing sector remains on reasonable footing despite the Federal Reserve’s efforts to hamper demand – and lower inflation – through higher interest rates. But the Fed’s aggressive rate hike campaign has delivered another blow to the housing sector, with market sentiment among U.S. home builders sliding for the 10th month in a row in October as soaring mortgage rates and bottlenecks for building materials put new home purchases out of reach for many American consumers, prospective first-time buyers in particular. The two data points out Tuesday illustrate the uneven impact the U.S. central bank’s rate hikes are having so far on the economy. Housing has emerged as the most-afflicted sector so far, with interest rates on the most popular type of U.S. home loan nearing 7% […]